Loans and borrowings (Tables)

6 Months Ended

Jun. 30, 2025

Loans and borrowings

Summary of carrying amounts of the Group's loans and borrowings


		30 June		31 December
US$ thousand		2025		2024
Current
Senior syndicated facility		21,328		38,644
Copper stream		10,726		10,275
Silver stream		10,201		9,347
		42,255		58,266

Non-current
Mezzanine debt facility		—		95,003
Senior syndicated facility		194,492		116,032
Copper stream		75,250		75,636
Silver stream		55,579		58,254
		325,321		344,925
		367,576		403,191

Summary of continuity schedule of loans and borrowings

The following table presents the continuity schedule of loans and borrowings during the period ended 30 June 2025:


US$ thousand		Carrying amount
Balance as of 1 January 2025		403,191
Drawdowns
Drawdown of senior syndicated facility		66,000
Arrangement fee deducted from drawdown		(3,275)

Repayments
Mezzanine debt facility		(112,984)
Copper and silver delivered against copper and silver stream		(11,549)

Other movements
Debt extinguishment and modification costs		12,469
Amortisation expense		13,724
Balance as of 30 June 2025		367,576

Summary of repayments of loans and borrowings


		Six months ended
US$ thousand		30 June 2025
Repayment - Mezzanine debt facility		112,984
Repayment - Mezzanine debt facility embedded derivative (Note 15)		32,355
Total repayment before interest and costs		145,339

Accrued interest up to the date of repayment		3,652
Additional prepayment interest per the terms of early settlement		10,597
Other costs related to settlement		1,068
Total repayment		160,656